Shares of Centene Corporation (NYSE:CNC) fell 5.1% on Tuesday . The company traded as low as $88.12 and last traded at $89.78. 4,710,817 shares changed hands during mid-day trading, an increase of 226% from the average session volume of 1,446,340 shares. The stock had previously closed at $94.58.

A number of brokerages have recently weighed in on CNC. Morgan Stanley began coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 target price for the company. Citigroup Inc. raised their target price on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a research note on Wednesday, July 26th. Leerink Swann restated a “market perform” rating and issued a $90.00 target price (up from $78.00) on shares of Centene Corporation in a research note on Wednesday, September 13th. Cowen and Company reiterated an “outperform” rating and issued a $105.00 price objective (up from $77.00) on shares of Centene Corporation in a research report on Wednesday, September 13th. Finally, ValuEngine lowered Centene Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Centene Corporation currently has an average rating of “Buy” and a consensus price target of $92.24.

The company has a market cap of $15.48 billion, a P/E ratio of 19.70 and a beta of 0.63. The stock has a 50 day moving average price of $86.60 and a 200 day moving average price of $78.42.

Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. Centene Corporation’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. On average, equities analysts forecast that Centene Corporation will post $4.92 earnings per share for the current year.

In other Centene Corporation news, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total value of $317,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.59, for a total value of $344,152.53. The disclosure for this sale can be found here. Insiders have sold 43,167 shares of company stock worth $3,470,973 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CNC. Mckinley Capital Management LLC Delaware purchased a new stake in Centene Corporation in the second quarter worth $101,000. Bronfman E.L. Rothschild L.P. increased its position in Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after buying an additional 93 shares during the last quarter. Seven Bridges Advisors LLC purchased a new stake in Centene Corporation in the second quarter worth $123,000. IFP Advisors Inc increased its position in Centene Corporation by 9.6% in the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new stake in Centene Corporation in the second quarter worth $186,000. 92.32% of the stock is owned by institutional investors and hedge funds.

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About Centene Corporation

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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